Frequently Asked Questions - Commercial Business Insurance

We are constantly adding FAQs to this page. If you have a question that is not addressed here, please send us an email, call us on 1300 880 409 or use our Contact page to send us an online inquiry. We will contact you within 24 hours to answer your inquiry.

Public Liability Insurance Frequently Asked Questions (FAQs)

Q: Will my policy cover me for Products Liability Insurance as well?
A: Normally - yes. Insurance brokers will not sell Public Liability Insurance without Products liability cover unless you are a property owner. You would be exposed if you did not have it.

Q: Why buy Public Liability Insurance?
A: It gives you peace of mind knowing that if a claim arises your policy will respond. In particular your Public Liability Insurance policy will respond to bogus claims. Your insurer will defend your position, paying litigation costs & ultimately obtaining a successful rejection of the claim, all while you just get on with your business.

Public & Products Liability Insurance Frequently Asked Questions (FAQs)

Q: What is Public Liability Insurance?
A: Public Liability Insurance is an insurance policy which offers the insurer protection from people claiming compensation in the event of an accident or loss in or around their home or business. Thus if there was an accident on your property and someone was to lodge a compensation claim, then your Public Liability Insurance policy will assist you with the payment of compensation. Public Liability Insurance additionally may offer the insurer protection against claims from trespassers as well as providing cover against injuries made by falling objects or people carrying out repairs.

Obtain Public Liability Insurance and be Safe rather than Sorry!

The cost of obtaining and maintaining a Public Liability Insurance Policy is minuscule compared to the massive compensation bills which can occur if you are not adequately insured. Obtaining a Public Liability Insurance policy can protect you against compensation claims in the event of an accident to a person or an object occurring through your own fault or around your property or business. Compensation claims currently range from a few hundred dollars to a few million, depending on the severity of the circumstances. If you are not adequately equipped to settle such compensation claims you and your family could wind up losing everything you have ever worked for, including your house and possessions, to settle the compensation claim.

How to obtain Public Liability Insurance

Obtaining a Public Liability Insurance policy is similar to obtaining any other insurance policy in that you need to pay a premium to an insurance company in order to receive the cover. The premium of your Public Liability Insurance policy will depend on the type and amount of cover you require. Some content or property insurance policies offer built in public liability insurance, but it is best to clarify with your insurance company on the level of cover offered. If the protection currently offered is inadequate it may be in your best interest to obtain a separate Public Liability Insurance policy.

Public Liability Insurance for your Business

Public Liability Insurance is highly recommended if you are operating a business as compensation claims are on the rise and it is better to be safe than sorry. Your business may be required to obtain Public Liability Insurance if it exposes your clients to potential dangers or risks. Furthermore it is becoming increasingly common for businesses and clients to demand proof of Public Liability Insurance prior to embarking on projects with each other as this will provides both parties with protection in the event of an accident and a compensation claim being made.

Q: What is Product Liability Insurance?

Product Liability Insurance protects your business against anyone being hurt or killed or their property being damaged by goods you have made, sold or repaired. You don't have to have been negligent to be held liable for damage or injury caused by defects in your products' design or manufacture.

Product Liability Insurance is particularly valuable if you work in a potentially high-risk sector, such as the food, toy or electrical industries. Product Liability Insurance cover is often included with Public Liability Insurance.

You may need Product Liability Insurance even if your company did not manufacture the product because the Australian Trade Practices Act can make the supplier liable

Product liability law covers the range of remedies available to individuals who are injured by defective products or who otherwise suffer loss or damage caused by defective products. Defects in products include design defects, manufacturing defects and instructional defects such as inadequate labeling, instructions for use or warnings which render the product dangerous.

Product Movement Insurance or National Marine Insurance Frequently Asked Questions (FAQs)

Marine Insurance covers the loss or damage of ships, cargo, terminals, and any transport or property by which cargo is transferred, acquired, or held between the points of origin and final destination.

Q: Will my Marine Cargo Insurance pay for delay from any insured peril.
A: Normally NO. If you are in the fashion business for example, send your consignment to its destination by air in a minimum of 5 consignments. This way you have a higher likelihood of receiving your produce in full & on time.

Q: Will my policy pay “duty” if I have a total loss?
A: Only if you nominate it in the insurance contract. Get a broker like us who understands Marine Insurance like us!

For More Information About Our Insurance Policies ...

For more information about our Insurance Policies send us an email, call us on 1300 880 409 or use our Contact page to send us an online inquiry. We will contact you within 24 hours to answer your inquiry.